SHKP to invest in air cargo complex project in Shanghai
Sun Hung Kai Properties (0016.HK, SHKP) is said to invest in the west air cargo complex (phase II air cargo complex) of Shanghai Pudong International Airport. The news has been confirmed by both parties.
A senior official of Shanghai Airport Authority (SAA) said that the air cargo complex project has been divided into several small projects and SHKP might invest in one of the projects.
The official also said that Hong Kong Airport Authority would not invest in the project as it originally planned to.
It has not been fixed yet as to the share proportion of SHKP, but both parties has primarily agreed that SHKP could take 5% shares of the air cargo complex.
UPS and DHL, the global express service giants, had also singed agreements with Pudong Airport to invest in the project.
SHKP, the Hong Kong-based real estate developer, is engaging in air logistics.
It has already invested in an air transport center in Hong Kong International Airport and has the plan to invest in the third air cargo complex in Hong Kong.
